In a message dated 11/21/2003 5:40:23 AM Eastern Standard Time, [log in to unmask] writes:
> What is the basis for defining retention periods? Is there a definitive foundation or baseline that decisions about
> individual datasets can be based on?
Here in NorthAm if there are no statutory or regulatory requirements requiring the retention or maintenance of the records then we look at the following business needs for the records in question.
Is there an administrative need?
Is there an operational need?
Is there a financial need?
Is there a legal need?
Does the record have potential historical/archival value.
You take all of the above and work with the owner of the records (and any other interested parties) to determine the retention period. In the corporate world where I work we have the Legal and Tax folks review any and sign off retention periods.
One other factor that we take into account is limitations of actions (aka statutes of limitations). this falls under tort law when can a plaintiff file a suit say for breach of contract? or file an claim for an injury occurrence. These laws don't require that one should maintain records but you would want to keep them.
you can also go search the recmgmt-l list archives as there was a good discussion over there in the past few weeks on this same subject. here is the link for that list
http://lists.ufl.edu/archives/recmgmt-l.html
Peter A. Kurilecz CRM, CA
Richmond, Va
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